Bitcoin's price plunged below $59,000, reaching $58,080 per unit on Sunday. Over the past 24 hours, it decreased by 3.5% against the U.S. dollar and dropped 13% over the week.
Liquidations amounted to $223 million, adding to the market turmoil. Meanwhile, South Korea experienced a noticeable spike in the premium prices of Bitcoin.
This market movement highlights the volatility in cryptocurrency markets and the different behaviors seen in regional markets like South Korea.
